EE: Eesti Energias Latvian operations revenues up by 66.5% y/y in 2011.

By bne IntelliNews January 4, 2012
Estonian energy companys Eesti Energias Latvian subsidiary Enefit recorded revenues of EUR 19.5mn in 2011, which indicates 66.5% y/y increase in the figure. Enefit recorded 25% y/y volume increase in 2011, selling 420 GWh of electricity in 2011, which accounts for almost 7% of the total consumption in Latvia. Oskars Kupse, spokesperson for Enefit, indicated that the company has increased number of customers significantly and growth of its market share in the open electricity market. Board chairman of Enefit Aivar Tihane indicated that the companys projects started in 2010 has allowed the company to increase its revenues in 2011. The company has developed number of electricity purchase products, among others, a product allowing to buy electricity entirely from renewable sources.
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